January 30, 2004

GDP Growth Below Target

Economic Growth Below Expectations

U.S. economic growth slowed to a 4 percent annual rate in the final three months of 2003, less than half the third-quarter pace as consumers braked their spending, the Commerce Department reported on Friday.

The expansion in gross domestic product was well below Wall Street economists' expectations for a 4.8 percent rate of increase and far below the sizzling 8.2 percent expansion posted in the third quarter when tax-induced spending was strong.

Being below 8.2 was to be expected. However, not meeting expectations is never good, and certainly this will help fuel concerns about the recovery and give the Seven something to grouse about.

Posted by Steven Taylor at January 30, 2004 08:48 AM | TrackBack
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